Surrozen, Inc. (NASDAQ:SRZN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Surrozen, Inc. (NASDAQ:SRZN) has earned an average recommendation of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $42.00.

A number of brokerages have recently commented on SRZN. Cantor Fitzgerald reissued an “overweight” rating and set a $40.00 price target on shares of Surrozen in a research note on Tuesday, March 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a research note on Tuesday, April 21st. HC Wainwright reissued a “buy” rating and set a $44.00 price target (up from $36.00) on shares of Surrozen in a research note on Thursday, May 7th. Wall Street Zen upgraded Surrozen from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, TD Cowen initiated coverage on Surrozen in a research report on Tuesday, April 21st. They set a “buy” rating for the company.

Surrozen Trading Up 3.9%

Shares of SRZN stock opened at $21.50 on Wednesday. The business’s 50-day moving average price is $28.24 and its 200-day moving average price is $24.50. Surrozen has a 12 month low of $8.00 and a 12 month high of $35.00. The firm has a market capitalization of $249.62 million, a price-to-earnings ratio of -0.57 and a beta of 0.51.

Surrozen (NASDAQ:SRZN) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($11.65) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($10.56). Surrozen had a negative net margin of 4,810.50% and a negative return on equity of 4,055.04%. The firm had revenue of $5.00 million for the quarter, compared to analyst estimates of $4.00 million. On average, sell-side analysts predict that Surrozen will post -7.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Tcg Crossover Gp Ii, Llc acquired 106,658 shares of the stock in a transaction dated Tuesday, March 24th. The stock was bought at an average cost of $24.69 per share, for a total transaction of $2,633,386.02. Following the completion of the transaction, the insider directly owned 736,554 shares of the company’s stock, valued at $18,185,518.26. The trade was a 16.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Craig C. Parker sold 4,524 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $33.33, for a total value of $150,784.92. Following the transaction, the chief executive officer owned 16,553 shares of the company’s stock, valued at $551,711.49. This trade represents a 21.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have purchased 170,878 shares of company stock valued at $4,232,976 and have sold 8,144 shares valued at $271,440. 31.74% of the stock is owned by insiders.

Hedge Funds Weigh In On Surrozen

A number of hedge funds have recently made changes to their positions in SRZN. China Universal Asset Management Co. Ltd. raised its position in shares of Surrozen by 50.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares during the last quarter. Persistent Asset Partners Ltd bought a new position in shares of Surrozen during the fourth quarter worth about $99,000. Citadel Advisors LLC raised its position in shares of Surrozen by 32.8% during the third quarter. Citadel Advisors LLC now owns 13,875 shares of the company’s stock worth $179,000 after acquiring an additional 3,424 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Surrozen during the fourth quarter worth about $247,000. Finally, Geode Capital Management LLC increased its holdings in Surrozen by 22.6% in the second quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock worth $277,000 after purchasing an additional 5,702 shares in the last quarter. 66.57% of the stock is currently owned by institutional investors.

Surrozen Company Profile

Surrozen, Inc is a clinical-stage biopharmaceutical company focused on developing novel therapeutic antibodies that target the Wnt signaling pathway for applications in tissue repair, regeneration and oncology. Founded in 2012 and headquartered in South San Francisco, California, the company leverages its proprietary SurroBody platform to design bispecific antibody molecules capable of modulating Wnt receptor activity with enhanced tissue specificity.

The SurroBody platform enables the generation of high-affinity, dual-binding antibodies engineered to either activate or inhibit Wnt signaling, a pathway critical to cell proliferation, differentiation and homeostasis.